PrairieSky Royalty Ltd (PSK) Announces Monthly Dividend of $0.06

PrairieSky Royalty Ltd (TSE:PSK) announced a monthly dividend on Wednesday, November 29th, TickerTech reports. Investors of record on Friday, December 15th will be given a dividend of 0.0625 per share on Friday, December 15th. This represents a $0.75 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, November 29th.

PrairieSky Royalty (TSE PSK) traded up C$0.04 during midday trading on Tuesday, hitting C$32.56. The stock had a trading volume of 354,639 shares, compared to its average volume of 475,393. PrairieSky Royalty has a 12 month low of C$27.10 and a 12 month high of C$35.90.

In other news, Director James Estey sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of C$32.82, for a total transaction of C$3,282,000.00. Also, Director Sheldon Brooks Steeves sold 7,714 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of C$35.62, for a total value of C$274,772.68.

PSK has been the subject of several research reports. GMP Securities lifted their target price on PrairieSky Royalty from C$33.00 to C$35.50 in a report on Wednesday, November 1st. CIBC raised their price target on PrairieSky Royalty from C$38.00 to C$40.00 in a research report on Tuesday, October 31st. National Bank Financial raised their price target on PrairieSky Royalty from C$28.00 to C$33.00 in a research report on Tuesday, October 31st. Barclays raised their price target on PrairieSky Royalty from C$28.00 to C$32.00 in a research report on Monday, October 30th. Finally, BMO Capital Markets raised their price target on PrairieSky Royalty from C$30.00 to C$35.00 in a research report on Tuesday, October 10th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of C$35.45.

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PrairieSky Royalty Company Profile

PrairieSky Royalty Ltd. is a Canada-based company, which holds a portfolio of fee simple mineral title, and oil and gas royalty interests in Canada. The Company’s properties are located in British Columbia, Alberta, Saskatchewan and Manitoba. As of December 31, 2016, the Company’s assets include the Fee Lands, encompassing approximately 7.8 million acres; the GORR Interests, encompassing approximately 6.3 million acres of the GORR Lands; the GRT Interests, encompassing approximately 0.2 million acres of the GRT Lands; approximately 0.2 million acres of Crown Interest Lands primarily in Alberta, and the Seismic License to certain seismic data of Encana Corporation, encompassing approximately 43,000 kilometers of two dimensional seismic and over 13,000 square kilometers of three dimensional seismic.